Party Poker credit card

    • KidPokersKid
      KidPokersKid
      Global
      Joined: 27.02.2009 Posts: 653
      Anyone apply for this thing, from what I read it is a prepaid type of thing, and I think you can withdraw directly to it... is this the kind of thing that is going to let me spend money without having to pay taxes on it (talking about a small amount), since the card history is going to be hidden since it is prepaid? (have no experience with this stuff)
  • 6 replies
    • HannesZ
      HannesZ
      Headadmin
      Headadmin
      Joined: 30.06.2010 Posts: 16,311
      Hi KidPokersKid,

      About which credit card are you talking?

      We are sorry, but we cannot give you any advices regarding taxes. Therefor please contact a specialist lawyer.

      Best regards,
      Hannes
    • KidPokersKid
      KidPokersKid
      Global
      Joined: 27.02.2009 Posts: 653
      Party poker has their own prepaid credit card on their options when I look at options to withdraw I think its a mastercard (dont have access to the client right now)
    • Reanimater
      Reanimater
      Bronze
      Joined: 12.11.2008 Posts: 148
      PartyPoker will not share any of your information with third parties, but the card is not designed to help people hide taxes.

      If you use the card in a regular "atm cash machine", the bank processing the transaction would still be able to know that you withdrew some money.

      For example: you but the partycashier mastercard, you receive it in your mail box and start using it.

      first, you activate the card, then you withdrawal money to it.

      however if you want to spend those money you still have to go through the regular ways - a merchant, a bank etc.

      merchants and banks can share information about your purchases with your government.

      the prepaid cards are FAST in processing money, but you need to READ THE FINE PRINT as sometimes the transactions will cost you more in the long run (as there are fees for cashing out money from ATM machines and so on).


      i hope i was able to help with some insight on the matter : )
    • RockEye
      RockEye
      Bronze
      Joined: 12.08.2008 Posts: 416
      Netteler has a similar product. It's easy to use and without any yearly membership fees.
      And i am pretty sure Netteler doesn't share info about your transactions to governments, nor the merchants. They don't care as long as the get their money. This would be like you'd have to leave your personal data to a merchant if you buy something for like 500$ with cash.
    • Reanimater
      Reanimater
      Bronze
      Joined: 12.11.2008 Posts: 148
      you think that if you use your neteller card to a merchant and buy something, then you do not have to justify the purchase?

      there is no way for you to launder money unless you justify the source of the money, which would basically tax them again.

      if i buy a 2500 usd computer from apple, any gov official can ask what money i used for the purchase. i would need to justify the amount of money i have in my neteller/partypoker card.

      even if my information is not shared from the payments' side, then it might be shared from the merchant (apple).

      if you play exclusively on partypoker and make 2-3 cashouts per month - get the card, if not get the neteller card.

      in the end, this might help you dodge taxes, but only if you spend the money on everyday products like food, clothes and so on. if you purchase a car you may need to declare some income.
    • KidPokersKid
      KidPokersKid
      Global
      Joined: 27.02.2009 Posts: 653
      thanks for all the information guys...